Repositioning Australia’s economy to remain globally competitive through the energy transition does not mean stripping out First Nations outcomes - in fact the opposite must be the case.
The First Nations Clean Energy Network appreciates that the broad intent of the Future Made in Australia agenda is about remaining globally competitive and helping to ʻsecure Australiaʼs place in a shifting global economic and strategic landscape on the back of the global transition to net zero.ʼ
While the Network welcomes the Australian Governmentʼs plans for a Future Made in Australia agenda, the Network does not accept that First Nations outcomes should be compromised or diminished in this push to remain globally competitive.
Rather, Australiaʼs Future Made in Australia agenda - including through the Future Made in Australia Bill - provides an unmissable opportunity to embed First Nations outcomes.
As the Network has noted in similar policy frameworks in other jurisdictions (e.g. the US Inflation Reduction Act), incorporating First Nations consent, partnerships, ownership - and incentivising such outcomes through innovative tax and procurement rules has become part of the competitive advantage that jurisdictions are seeking to establish.
This is the emerging nature of the global economic and strategic landscape - one that no longer excludes First Nations priorities and opportunities, because of the realisation of the additional value that First Nations participation and consent adds.
Given that the Future Made in Australia agenda is about competing globally and attracting investment to Australia, there is no reason that similar beneficial arrangements for First Nations communities - as are being built into economic and tax policy systems internationally (because doing so establishes a competitive advantage) - should not similarly be deployed in Australia and in the design of the Future Made in Australia agenda.
Recommendation 1
In securing Australiaʼs place in a shifting global economic and strategic landscape as the world transitions to clean energy, Australia must realise that investing in, incentivising and including First Nations consent, partnerships and participation in the energy transition and in industrial policy is an investment decision that will support Australia to remain globally competitive.
Recommendation 2
The Community Benefit Principles introduced by the Future Made in Australia Bill must also include the following point:
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ensuring First Nations communities and Traditional Owners can participate in and benefit from Future Made in Australia supports.
Recommendation 3
Given the broadened focus of Export Finance Australia on domestic transactions, amend, through the Future Made in Australia (Omnibus Amendments No. 1) Bill 2024, the manner in which Export Finance Australia performs its functions by including the following paragraph:
- encouraging and facilitating First Nations participation in and benefit from EFICʼs national economy and net zero functions.
Read our recent submission to the government’s Senate Economics Legislation Committee inquiry into the provisions of Future Made in Australia Bill 2024 and the Future Made in Australia (Omnibus Amendments No. 1) Bill 2024 by clicking here.